This is a short to medium term loan granted to schools for the purchase of school buses, vans and generators.
Asset Finance for Schools
- New vehicles - 10% flat
- Used Vehicles - 12% flat below 8 years
- LACE - 2%
- Minimum loan amount of Tshs. 6,000,000 and maximum depends on ability to repay
- Maximum repayment period of 48 months
- Flexible repayment period
- Asset being financed is the security
- The facility is self-liquidating
- Minimum owners' contribution of 30%.
- Should be an account holder with Equity Bank for at least 6 months
- School owners
- Salaried employees
- Registered business
- School fees must be paid through the bank
- Reliable cash flow
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Consumer Asset Finance
This is a short to medium term loan granted to customers for purchase of moveable capital assets, mainly motor vehicles, construction equipment, industrial plant and machinery, agricultural equipment, office & IT based equipment and specialized equipment.